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The Silver Lining of Price Spikes: How electricity price spikes can help overcome the energy efficiency gap

Mauritzen, Johannes
Working paper
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URI
http://hdl.handle.net/11250/227231
Date
2013-08
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  • Discussion papers (FOR) [514]
Abstract
Studies

have

shown

that

many

consumers

and

businesses

fail

to

invest

in

energy

efficiency

improvements

despite

seemingly

ample

financial

incentives

to

do

so

–

the

so-­‐called

energy

efficiency

gap.

Attempts

to

explain

this

gap

often

focus

on

searching

costs,

information

frictions

and

behavioral

factors.

Using

data

on

Norwegian

electricity

prices

and

Google

searches

for

heat

pumps,

I

suggest

that

the

inherently

spikey

nature

of

many

deregulated

electricity

markets

–

often

seen

as

a

sign

of

inefficiency–

has

a

strong

and

significant

positive

effect

on

searching

for

information

on

energy

efficiency

goods.

I

attempt

to

identify

the

informational/behavioral

effect

by

using

a

novel

method

of

measuring

spikiness:

decomposing

the

price

series

into

a

range

of

Loess

smoothed

series

and

deviations

from

these

curves.
Publisher
FOR
Series
Discussion paper;07/13

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